Aavas Financiers Limited announced the outcome of its Executive Committee Meeting of the Board of Directors held on December 23, 2025. The committee approved the issuance of Unlisted, Secured, Unrated, Redeemable, and Coupon Bearing Non-Convertible Debentures (NCDs) for an aggregate amount of approximately ₹975 Crores (US$108 million) on a private placement basis. The issuance will be in two tranches. Tranche 1 will comprise Series 1 (up to US$100 million) and Series 2 (up to US$4 million). Tranche 2 will comprise Series 3 (up to US$4 million). These NCDs are to be issued to a multilateral institution and will not be listed on any stock exchange. The NCDs will have varying tenors and redemption dates depending on the series, with coupon rates to be determined near the issuance date. Series 1 will carry a coupon rate to be finalized, Series 2 and Series 3 will have a coupon rate 150 basis points lower than Series 1. Interest and principal payments will be made on a semi-annual basis, with partial redemption of debentures occurring over several installments. The Debentures will be secured by a first-ranking exclusive charge on specific receivables, ensuring a security cover of 110% of the aggregate interest and principal due. The Meeting commenced at 11:34 A.M. (IST) and concluded at 12:02 P.M. (IST).